Bonds

The private partner in a prominent Maryland public-private partnership dropped out Thursday, citing environmental delays, lawsuits, and disagreements with the state, in a move that leaves the fate of the country’s largest P3 in doubt. Australia-based toll road operator Transurban, the lead partner in a consortium known as Accelerate Maryland Partners, said it had submitted
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President Biden’s proposed budget unveiled Thursday includes the lowering of the private activity bond threshold for Low Income Housing Tax Credits to 25% from 50% and muni lobbyists, though skeptical about the prospects of the budget passing as is, say they will work hard to include the provision in any final budget. “While the President’s
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Municipals were little changed in secondary trading Wednesday amid an active primary market with two billion-dollar deals priced, although details on one were not immediately available. U.S. Treasury yields were weaker in spots and equities ended mixed. The three-year muni-UST ratio was at 59%, the five-year at 61%, the 10-year at 66% and the 30-year
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Nossaman added Michelle McCarthy as a partner in its Los Angeles office and changed the name of the practice she joined to reflect the new line of services her addition brings. The practice she joins was renamed to Pension, Benefits & Investments Group from the Public Pensions & Investments Group. “Michelle’s deep, nuanced experience in
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Unsteady leadership has challenged the financial stability of Wellfleet, Massachusetts, according to a state review of the town’s financial management that was recently made public. High turnover rates in key government positions over the last decade left the Cape Cod town of 4,035 without sustainable revenue streams and in need of fundamental reforms, the Division
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The National Federation of Municipal Analysts has named Mark Capell, managing vice president of public finance for Build America Mutual’s West Region as its president for the 2023 year. The first bond insurer to serve as president of NFMA since Bill Hogan of Assured Guaranty’s 2009 term, Capell believes his experience in bond insurance gives
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The Federal Reserve said further interest-rate hikes would be required to restore price stability. “The committee is strongly committed to returning inflation to its 2% objective,” the Fed said in its semi-annual report to Congress released Friday. Officials expect “ongoing increases in the target range will be appropriate in order to attain a stance of
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Legislation seeking to end government contracts with companies engaged in “boycotting” an expanded list of industries and business policies passed the Utah House and Senate late Thursday. Senate Bill 97 builds on laws previously enacted in Texas and a few other states focusing on “boycotts” of the fossil fuel or firearm industries by adding timber,
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Municipals were firmer in spots Friday, with pressure easing for short-end munis, ahead of a robust new-issue calendar where issuance tops $10 billion. U.S. Treasuries rallied out long, and equities ended up. Triple-A benchmark yields were bumped three to 12 basis points, depending on the scale, at one-year, while UST yields fell four to 13,
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